LOMÉ, Togo, November 24, 2025/APO Group/ —
The Government of Senegal and the West African Development Bank (BOAD) (www.BOAD.org) have signed a Memorandum of Understanding establishing a strategic partnership framework based on the country’s public asset development.
This innovative mechanism is designed to strengthen Senegal’s financing strategy, to consolidate its financial performance and support its development goals, while improving resource mobilization. Structured around leveraging the economic potential of the country’s infrastructure, the Senegal Asset Development Fund (FOVAS) will use revenues generated from these assets to diversify funding sources and provide sustainable support to national economic growth.
Under this partnership, BOAD will provide expertise in financial structuring and act as a catalyst in attracting private investors and international development partners. This initiative will help consolidate strategic infrastructure within a dedicated vehicle in order to mobilize additional resources for the State and improve the quality of services provided to the population.
Mr. Cheikh Diba, Minister of Finance and Budget, stated: “This agreement is a major step forward for Senegal. The FOVAS, more than just a financial mechanism, reflects the State’s drive to structure the economic leveraging of public assets in a bid to create greater value, increase fiscal flexibility and strengthen the financing of our development process. We are confident that BOAD’s expertise will be instrumental to the success of this initiative.”
“This partnership reflects the shared commitment of BOAD and the Government of Senegal to work jointly to accelerate funding mobilization. Our role will consist of supporting the Senegalese Government to unleash the value potential of its strategic assets, thereby ensuring sustainable investments and strengthening the country’s financial resilience for the benefit of regional integration” emphasized Mr. Serge Ekue, President of BOAD.
